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Kohlberg Kravis Roberts on Thursday announced the launch of a Singapore office, the firm's seventh in the Asia-Pacific region.

The new office will serve as the firm's hub for Southeast Asia, a region in which KKR has invested more than $1 billion since 2005, confirmed Steven Okun, KKR's Singapore-based director of public affairs.

Ming Lu, a member and regional leader of KKR's Southeast Asian private equity business, will lead the office but will remain based in Hong Kong, reflecting his other roles serving on KKR's Asian portfolio management committee and its China Growth Fund investment committee.

Two other directors at KKR, Kabir Mathur and Ridha Wirakusuman, will relocate to Singapore from Hong Kong.

The news release said KKR “sees opportunities in Southeast Asia arising from the increase in domestic consumption; the rapid development of the financial services industry; the increasing demand for better and improved infrastructure; opportunities from non-core carve-outs and corporate divestitures as well as divestments from state-owned enterprises.”